You elect the world’s most notorious and well documented liar to be President.
What could possibly go wrong?
Hormuz closed again despite “deal” announced this week.
Put yourself in the position of a shipper, or someone that insures shippers, and ask what’s going to happen.
Interview above with Oil markets expert Dan Dicker is a must watch.
Shipping numbers in the Strait of Hormuz have been on a slow climb since the United States and Iran agreed to a preliminary deal this week to end the war and reopen the vital waterway. But traffic was suddenly jeopardized on Saturday, when Iran’s military said it was shutting the strait once again.
The closure came as U.S. Central Command announced a milestone, saying 55 commercial ships transited the strait on Saturday. That would be the largest number of ships to cross in a day since Iran effectively closed the strait early in the war — though it’s still far below the 130 daily prewar average.
It was not clear whether traffic had changed after Iran announced the new closure.
The confusion compounded as the United States and Iran offered conflicting assessments. The naval arm of Iran’s Islamic Revolutionary Guards Corps said if ships approached the strait, their security would be at risk.
But Capt. Tim Hawkins, a spokesman for U.S. Central Command, denied in a text message on Saturday that Iran had closed the waterway, saying, “The strait is open and the U.S. blockade against Iran has ceased.” He wrote that traffic was “continuing to flow” and U.S. forces were monitoring the situation to ensure that continues.
Though the preliminary deal reached by Iran and the United States included provisions to reopen the waterway, shipping companies remain cautious about moving through it. They also face logistical hurdles after their ships have been sitting in the Persian Gulf for months.